florida, right now where mitt romney, the presumptive republican leader is at a campaign event and has spoken and is planning to address the reporters live. this is a critical time, too. there has been a mess playing out since the "new york times" hit everybody's doorstep this morning or your ipad and that is a revelation that there was a plan in place yet to be approved by the head of the super pac that could have been a big smear campaign in this race for the presidential election in november, a smear campaign against president obama and an effort to bring up race and also the reverend jerri might haemian issue in 2008 and something john mccain decided back to pursue back then. gloria is standing by live in washington to talk me through this. in this 24 hour news cycle, gloria, i have often said it usually takes 24 hours to get the story ramped up and the next 24 hours to ramp the story down.

the dominos have fallen at such rapid pace. take me through the reverberations. >> i think what you're seeing is a proposal that got leaked for whatever reason that was never approved, but the fact that it was being proposed and possibly being considered by somebody who has the big bucks to put hint it in a super pac add is incendiary because it was of course about reverend wright that caused the president so many troubles in the last campaign and that the president giving his speech on race and in this country, and i think what you are seeing from the romney campaign first of all, is a pushback and they did it in an interview, a prescheduled interview with a conservative website earlier, and i think the reason we're going to see mitt romney in a few more minutes is that they do not want to have anything to do with this ad. this morning he said he re pud r

pud atd it, and there is also another side to the story which is the ad person who proposed this used to work for senator john mccain, and as you point out earlier in your conversation with wolf, he referred to mccain as kind of the crusty, confused man, that i am told didn't go over well in mccain world, and also mccain advisers have come out on the record to jessica yellowen and to me and i spo he can with charlie black and she spoke with steve schmidt and charlie black said to me that senator mccain said very firmly we were not going to discuss the other candidate's relationship with his pastor. he was right about that and anybody who wants to relitigate that, he says, is absolutely wrong. >> gloria, i want to highlight specifically why this is so dirty apart from what you just highlighted, the nastiness

referring to john mccain. there was a plan that was sort of in the works in this working paper, by the way, not just a working paper, like a 54 page glossy with photographs >> it was a proposal actually. that's the thing. they were all bidding for business, right. >> in this proposal they suggest and had quoting from the "new york times" hiring spokesman as a, quote, extremely literate conservative african-american who can argue that mr. obama misled the nation by prending himself as what the proposal calls a metro sexual black abe lincoln. that just sounds dirty. >> yes, it is terrible. i think that it is kind of the -- if you're cynical about politics, and lots of people are with good reason. >> no, no, no, not at all. >> then you read this proposal and you go, well, of course i am cynical about politics because look at this, and -- >> gloria, sorry to interrupt. we have been waiting on mitt

romney. he is addressing reporters and hopefully he will speak about this. let's listen. >> with with regards to a pac presumably being formed to attack president obama, and if i had a reaction to it, i had not seen the article at that point, but i read the article on the aircraft. as i read the article i want to make it very clear i repudiate that effort, and i think it is the wrong course for a pac or a campaign. i hope that our campaigns can respectively be about the future and about issues and about a vision for america and i have been disappointed in the president's campaign to date which is focused on character assassination, and i just think that we're wiser to talk about the issues of the day, what we do to get america working again, and talk about our respective records and so with that i certainly hope that you get a chance to see our first ad. that will come up i think in a

couple of days. it will a positive ad about the things i will do if i were president. it is contrasting with the president's ad that came out again as a character assassination ad, so my own view is that we can talk about a lot of things but the centerpiece of his campaign is clearly character assassination and the centerpiece of my campaign is going to be my vision to get america working again and provide a brighter future for your kids. emily. >> [ inaudible ]. >> i will let you take a look at it. obviously his efforts to look at my work at bain is to try to characterize me in a way that isn't accurate. my effort at bain capital as you know was in every case designed to try and make the enterprises we invested in more successful, to grow them. there is a fiction that somehow you can be highly successful by stripping assets from enterprise and walking away with lots of money and killing the enterprise. maybe some people know how to do that.

i sure don't. our approach was always make the enterprise more successful, and the purpose of the president's ads are not to describe success and failure but to somehow to suggest that i am not a good person or not a good guy, and i think the american people will know better than that if they don't already. this really should be a campaign about the future and about who can get america on track again to create good jobs, who can do a better job for our kids. it is about jobs and kids, and having a campaign focused on character assassination is one of the things i find offensive among many others in the pac and description that came in the "new york times." if that's accurate, obviously that's something i repudiate. >> -- responding to a quote on the radio. do you stand by that and do you

believe in president obama -- >> i am actually going to -- i am not familiar precisely exactly what i said. i stand by what i said, whatever it was and with regards to i will go back and take a look at what was said there. the focus of my campaign is going to bees i just suggested on the future and on who can do best to build an america that has great promise and great opportunity for fulfillment of dreams. steve. >> [ inaudible ]. >> i don't know what it is but because you have to win the number of states that gets you over the electoral majority, but florida is certainly a state i want to win, a state which george w. bush won, and given the fact it is voted republican in the past as well as democrat, this is a state that will be a battle ground state and i sure hope to win this one and ohio and virginia and north carolina and there are a number of states that should be in my column if i

am going to be successful, but as to which one is must win and which ones could fill in for one that might under perform, i can't give you that. i can tell you, you know, florida is a state that i am counting onto be successful in. thanks, guys. thank you. >> that is where the presumptive republican nominee ends his conversation with reporters in florida, jacksonville to be exact. i want to repeat what he said off the top of that, gloria, i repudiate the effort. it is the wrong course for a pac or campaign and him obviously in reference to what the "new york times" wrote this morning, a potential proposal for a multi-million dollar campaign to take the president down based on his associations with the reverent jeremiah write and a lot based on rice and he was able it get in, disappointed in the presidential campaign to date which has focused on character assassination. gloria, all throughout the primaries we were listening to surrogates who could blame the

pacs for the bad words being said on the trail. is this the way things will be until november? >> we're going to have super pacs. we're going to have pacs. they're not going to go away. as you know, there is a separation between the campaign and the super pacs. so the campaign cannot tell the super pac what to do. they operate as very separate entities and are not allowed to consult each other by law, so what mitt romney can do is say i repudiate what this super pac might have been thinking about or repudiate the proposal and he did say go on and take a look at my ad coming out and being produced by my campaign which is a positive ad and then he went on to attack the character assassination the ads run by the obama campaign about bain capital. it is really clear to me, ashley, that every minute that mitt romney doesn't spend talking about the economy, talking about jobs, or talking

about the president's health care plan is a minute they think they have lost, and an opportunity they think they have lost. what you saw him do just now is try to turn that conversation back to where he thinks he is on really solid ground and the polls show that and that's on the economy. >> i was so surprised because as soon as the flash came out about the "new york times" piece there was a response on paper, e-mailed to us saying i am focusing on the economy. >> right. >> now he made it absolutely clear. gloria, always a pleasure. >> thanks. >> a sniper targeting a school bus, putting a town on absolute edge. there is the rifle. it was found with ammo and a chilling note to boot. now police are escorting school buses back and forth. what is going on here? also today, big news with facebook. you and i use it, but did you know just how rich we are all about to make the founders?

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moms and dads are nervous with their children's safety at stake, every parents nightmare as you get ready to pick the kids up to school or head to the school bus drop off. police in an atlanta suburb are hunting for a sniper who set his sites on school buses. a couple of neighbors were watching. he was hiding behind a fence and raising a rifle as an approaching clayton county school bus on monday morning. one of the neighbors yelled and the man dropped the rifle and a note and took off. not before firing a shot from a handgun at that witness as he was being pursued. as you can imagine, security is heavy at the clayton county school buses as they make their afternoon runs and douglas hendricks is with the clayton county public schools and joins me live. unbelievable story. but for these witnesses, this person may have been able to fire off rounds at the approaching school bus. >> we give a lot of credit to the citizens who decided they would get involved and make sure that didn't happen. >> are the police updating you and the rest of the school

district about what they're finding out? are you working in concert with them? >> we are. they have been with us escorting buses and they have a heavy presence in the area, and where the gunman was seen, and so we have been talking daily about what they have. >> what about this note that the gunman dropped, what is in the note? >> we have not seen nor can we confirm a note, but we heard there was a note with bus numbers and possibly route times. >> bus numbers, route times. do we know of any student's names may have been on the note. >> i have not heard that. >> are they gaurting that and keeping that a secret. >> it is possible. we haven't confirmed it. we know it was something said or they say they found. >> all we have now is the witnesses. >> right. >> were they able to get a good read on a description? >> we heard a couple of different descriptions. we heard a gentleman, all black, possibly a fair skinned black person, possibly a white person. >> age range? >> age range from 18 to 23.

that's what we heard. >> young man. >> yes. >> what about direction he took off in, area, waiting car, nothing like that? >> no. sounds as though the actual witness chased him and he was headed towards a wooded area and decided to shoot a -- or fire back at the man. >> that was monday. this is thursday. >> right. >> we're no closer to finding somebody who is targeting school kids? >> for what we know, i think there were persons of interest, but i can't confirm any of that. >> so now what is your public school district doing other than escorting these buses and escorting these kids in various areas to try to keep the kids safe? >> absolutely. we're coming up to the end of the school year and so we're definitely suspended all outdoor activities for the children in the area and any activities they have they will do on the inside. we have also had the escorts going back and forth with the school buses and kudos to the police department. they do have a very heavy

presence, and not just the police department but all law enforcement, they're really joining together to make sure our children are safe. >> it is confounding and very scary. >> it is. >> thank you for coming. good luck. i hope you can find who this person is and bring them to justice. how would you like to spend your days doing this? try to save the life of your child by traveling far and abroad and trying something out never proven before. would you do it? you're about to hear one woman's story and what she is doing about all of this. doctor's promises, can they be kept? procedure banned in america and none of this is a story. it is all an actuality. special report on cnn coming up next. ♪ ♪

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>> most parents would spend every last dime they have and maybe more but does that give rise to doctors who may be looking in skrup he wills? watch this reporting from drew giff in. griffin. >> it is thanks giving weekend at the airport in greenville, south carolina. stephanie and her ex-husband josh are struggling to unload the bags and a stroller to get their 6-year-old son cash into the terminal for the start of a

very long trip to india. >> be careful. be careful. >> reporter: this will not be a cheap trip. >> i knew that it is very, very, very expensive, that money just doesn't exist in our lives. >> reporter: the actual cost for travel, treatment, housing, all the extras, around $25,000 which the family raised during a year's worth of fundraising and anchored by this blog change for cash.com. critics of what the family is about to do say even the price of treatment should raise a warning. >> it is all about $25,000, you know, and in the days when volkswagens were $6,000, that's how much the cures cost and now they're $25,000. they're calculated to take a family to the brink of what they can afford and they take

everything. >> reporter: dr. wise young is one of the u.s.'s leading neuroscientists and investigated the very clinic where cash will be treated by dr. sroth. >> there is zero evidence for what she is doing being effective. she is charging patients a lot of money for this. she has not published. to my knowledge, there is no evidence at all that her therapies are effective. no indian doctor i know would be allowed to practice this. >> reporter: ashley, we're going to take you on basically a journey of hopeless people striving to find some kind of hope at a clinic in india that is promising embryonic stem cell therapy that can relieve their incurable conditions. it is an especially emotional story following this one child, cash, and whether or not any of it did any good. >> it is heartbreaking to look at the pictures, too of them making this journey.

drew, thank you, and watch the special report selling a miracle, sunday night at 8:00 eastern. great work. a woman is kidnapped from a mall and held at gun point and raped and the suspect is a former police detective. she says he even told her to smile for the camera. now his defense in court, you will not believe it. [ baby crying ] ♪ what started as a whisper ♪ every day, millions of people choose to do the right thing. ♪ slowly turned to a scream ♪ there's an insurance company that does that, too. liberty mutual insurance. responsibility. what's your policy? ♪ amen, omen

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a waitress snatched at gun point from a shopping mall, raped and told to smile for the camera as the rapist takes pictures with his cell phone and sends them to a friend. the alleged attacker is a former police detective and on trial in california. get this, he is claiming he was so zoned out on the antidepressant zoe loft that he didn't know what he was doing. i didn't make this up, folks. sunny hostin is on the case and i can see by your smile you probably feel the same way i do, reason of unconsciousness.

it is a big pill to swallow. >> there have been juror that is have swol lowed that pill. in 2004 in santa cruz a man who assaulted his good friend over a bike was acquitted by a jury based on this zoe loft defense and juries reflected the defense also but it is not very rare for this defense to come up which was shocking to me when i did my research on this case. what's interesting, ashley, is when you argue this sort of defense, not guilty by unconsciousness, if the jury buys that argument, you get to get out of jail free card, right, but if you argue not guilty by reason of insanity, and you're convicted, you get to spend the rest of your time in a state hospital, so really this is a very novel defense, very different from an insanity defense where even if you're found guilty by reason of insanity you still spend time in a sort of prison, and at least in a mental hospital.

in this type of case you get acquitted if the jury buys it and you get to walk home free. >> and you know what, you and i have been on enough of the cases and heard enough of these increase defenses that nothing is surprising anymore. good to see you. in just minutes a huge moment on wall street. let's face it, you or someone you know is on facebook r single day. do you have any idea how incredibly rich the makers of this website are about to become in a matter of hours? p.s., will you even be on facebook in five years? i am ashley banfield and the news starts now. zuckerberg, sandberg, moskowitz, saf republican. you know the players. even low level employees could soon become millionaires. plus, when it comes to teenagers, is it still white hot? we'll ask them.

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good afternoon, folks. special coverage of the facebook ipo, the ipo, the initial public offering, the first time a private company takes stock and offers it to the public. why does that happen? for a few reasons. there is a great deal of press steej associated with going public and being listed on a stock exchange and in this case for facebook it will not nasdaq. it allows the company to raise money to expand its offerings. think about google before the ipo. it was a search engine company. now it is a place where you store documents, you live on the cloud, it has driverless cars, these companies tend to get bigger because they have access to your money and, number three, these were all start ups once and invested in by something called venture capitalists that

put their money into a company with the moep a few years later they'll get it back. most of those investors will get their money back tomorrow when facebook starts trading. the stock starts trading tomorrow morning sometime after 9:30 a.m. eastern, so why are we giving you special coverage right now? because in the next 25 minutes or a little later we're going to find out the final ipo price for facebook. initially facebook had said that price would be between 25, 28 and $35. they have since increased it to 35 to $38 and we think it will come in at the top of that range. that's because as they went on their roadshow to try and convince investors, mutual fund managers, hedge fund managers to invest in facebook, they found more demand than they expected. that price, let's say it is $38, we'll bring it to you as soon as we hear about it. that price is what hedge fund managers and mutual fund managers and large institutional investors will pay for facebook.

that is not likely the price that you will pay tomorrow morning when the stock opens for trade at 9:30 or sometime there after. the price you're going to pay is the price that the market will bear, the price that somebody who already bought those shares is prepared to sell them to you at. not all ipos end up trading for higher than the initial price. most do, and in this case it probably will. how much, we'll discuss that over the course of the next few minutes. i want to first talk to you about what is going on, what the buzz is about this stock and why it is such a big deal and alison kosik is standing by covering the story along with me. she is at the new york stock exchange and going to be at the nasdaq tomorrow because that's where the stock is going to trade. what's the buzz down there, alial allison and i think probably the most anticipated ipo of all? >> it really is. even here at the new york stock exchange where the stock is not

going to be traded there is a lot of excitement and you knew that it really cut deep when facebook chose the nasdaq to list on instead of the nyse on that day and everybody was pretty upset here on the floor of the new york stock exchange and a lot of people had expected facebook to choose the north america stock exchange because when a company chooses that, it basically gives bragging rights to that exchange. that being said, you know, you talk about sentiment, how everybody is feeling about facebook and one thing you can do is look at what these other tech ipos are trading at the moment and they're trading down quite a bit. you mentioned the other big tech ipos like pann dar aand linked in and google and group on. they're lowered quite a bit anywhere from 4 to 10% today. if you want to talk about sentiment and dollar figures, you're not seeing it in the numbers today. definitely the excitement is there to buy into facebook and on the road one investor told cnn money that it is nothing

short of pandemonium, this hype to buy into facebook. >> and it is worth noting that the comparisons that we make to other tech companies, we talked about groupon and zynga and company that is came out and ended up trading lower than the ipo, probably google is the more likely comparison. they're both novel ideas and ideas that really went and changed the paradigm of the internet because before google, you know, we still had portals and it wasn't all just purely about the best search engine you could get and you got google and facebook is saying the future of the internet isn't about search, it is about knowing what your friends do and the community that you choose and cureating your life for that and there is a accepts of moment and history, whether you're an investor in facebook, are you getting the sense from the traders this is a big deal. >> this is a big deal but with it comes a lot of questions spishlly from the seasoned traders. put the hype aside.

everybody is excited to get a piece of facebook because we know it so well and we understand it and we're on facebook and we are the customer. the seasoned traders are asking how is growth going to happen for facebook? how will facebook translate those ad clicks into real dollars, especially when you talk about on mobile devices, if you go to facebook right now on your iphone and tell me this, do you see any ads there? >> no, no d as at all. that's a big challenge. >> that's a problem. >> the challenge is how to put ads on these mobile devices where most people access facebook without alienating people from facebook in the first place. >> you make an interesting point about hype. a lot of people say the only reason to buy the stock or any stock you ever buy is because you stand the chance of selling it for more money at a later date and that is a consideration, so i am hearing a lot of people e-mailing me and tweeting me and saying how do i get in and buy and how much do i buy. i will tell you all that far stuff and remember you don't buy

unless you think it is going to sell for more than you paid for it. stay there. we'll be back with you. we'll take a quick break. when we come back we'll talk about the politics surrounding this facebook ipo. there is more than you might think. d. i didn't know how i was gonna to do it, but i knew i was gonna get that opportunity one day, and that's what happened with university of phoenix. nothing can stop me now. i feel like the sky's the limit with what i can do and what i can accomplish. my name is naphtali bryant and i am a phoenix. visit phoenix.edu to find the program that's right for you. enroll now. are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind...

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we are 20 minutes away from the time in which facebook's ipo can actually have a final price attached to and tomorrow morning we expect the stock to start trading allowing any of you out there to purchase the stock if you feel like it. we'll discuss whether you should and how you can do that, but when you talk about facebook, you associate it with that guy in the picture, mark zuckerberg, and in fact you would be hard pressed to associate many companies with one person the way you associate fais week with mark zuckerberg and you may think of apple and steve jobs but think of a few more. here is the thing, et cetera not the only guy. there are other people involved in facebook from the beginning and one of them is getting a lot of attention on capitol hill. dana has been following that story with us. dan is joining me to tell us about what that story is. dana. >> that's right. he is edward owe saf saveriin and if you saw the movie he was

sympathetic because he was portrayed by mark zuckerberg and since moved to singapore and they do not have taxes on capital gains and he renounced u.s. citizenship so there is a lot of questions whether he did that to not pay taxes and he just released a statement saying, quote, i am obligated to and will pay hundreds of millions of dollars of taxes to the united states government. i have paid and will continue to pay any taxes due on everything i earned while a u.s. citizen, but look at the last line, everything i earned while a u.s. citizen. what about anything he earns meaning sales of his shares when he is not a u.s. citizen? that is what is at issue here. >> congress wants to do something about this or some people in congress want to do something about this? >> that's right. today two democratic senators released legislation that they're pushing to try to make sure that taxes are paid and the specifics are that wealthy americans like saverin renouncing citizenship would be required to pay 30% capital gain

taxes on u.s. investments and if they didn't pay that they would be barred from the u.s. and couldn't come back into the u.s. listen to the way the senator schumer described it. >> if you renounce your citizenship to avoid paying taxes you can't step foot in america again and any investments you have in america will be taxed in the future at 30%. under current law mr. saverin would get away scott free. senator casey and i have a status upgrade for him. pay your taxes in full or don't ever try to visit the u.s. again. >> these senators used some incredibly sharp rhetoric, senator casey said that he is trying to spit in the face of america. they also said that they are hoping they can move this legislation very quickly and at the top republican on the senate finance committee said that he likes this idea. >> interesting point. a number of people tweeting say why do you talk about facebook

so much. why do i care? the state of california stands to gain $2 billion in the taxes that come due from all of these millionaires and billionaire that is will be made over night, so in tough times everybody is looking for every last dollar of tax revenue. who would have thought that these guys on capitol hill would be discussing the facebook ipo. thank you very much for that. remember, again, while we are going to be talking about mark zuckerberg and you are going to hear about cheryl sandberg, the chief operating officer, who is going to take a bigger role at the company now that it is going to be a public company, there are a lot of key players in here whose names you should know. there are already some of them wealthy and some of them famous and be a lot richer pretty soon. ashley banfield standing by to tell us more. >> to be part of this company back when, when we were just kids six years ago. closing bell minutes away as you have been mentioning all along. we want to make sure you know afterwards just how much you'll

be able to pay to buy one of those facebook shares. talk about the facebook faces for just a second. the billionaire in the hoodie and the people who helped built his social network, if the price turns out to be $38 a share, the high end of the range, they are going to be in it for some serious dough. starting with mark zuk esh berg, all right, already a billionaire and this is how much he stands to gain as the founder and the ceo of facebook. he stands to gain an additional 20.3 billion dollars. >> wow. >> as if a guy that didn't need it will get that much more. wait. there is more. take a look at that face, dustin moskovitz. you should know about him. he was a roomy at harvard of mark zuckerberg. he is the co-founder and the youngest billionaire in the world already according to forbes and stands to gain after closing bell and trading begins $5.1 billion. go to cheryl sandberg, the coo. already a very rich woman in her own right, she is the woman who is responsible for ad revenues

and that's a big issue going forward, right, so she has a lot on her plate. it might be easy to go down with $1.6 billion she stands to gain after tomorrow. all of this based on a $38 opening. let's move onto sean parker, remember him of napster fame, he is not with the company anymore, but he kept his shares. all right? he is one of the founding presidents of facebook and stands to gain an additional $2.6 billion. then what dana bash was talking about, edward owe saverin, this guy is living in singapore and already a billionaire and sued because he was being pushed out of facebook and the settlement disclosures were never made so we don't know his percentage but if you're trying to remember the social network, played by andrew garfield. >> that's what i was thinking. >> the cutie pie part. >> that's what i was thinking. >> $2.6 billion he stands to gain and again that's if the the

stake in his company is accurate. that could be a wide range as well. there you go. faces of facebook, tilted in their favor to be bigger billionaires than they already are. >> credit to them for being that smart that many years ago, ashley. they're going to be very rich people at the end of the day. all right. ashley is mentioning that in a little over 10 minutes it may be longer than that we'll find out the price, the price is likely to be $38 a share and maybe different but that's probably where it is going to be. should you buy it and if so, how much should you pay for it? erin burnett is an burnett is a these things. she's joining us on the other side of this break for the question you really want answered. while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas...

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i like facebook, i really do, and so do about 900 million other people. i really think it's a game changer in the internet space, but you know what? it shouldn't matter. that shouldn't be part of my decision as to whether or not i want to buy shares of facebook or not. that needs to be both emotional and mathematical. i need to like what it's doing. i need to have faith in it, but i have to wonder about the price. why do some things cost more than others in the same space. erin burnett knows a lot of these things. say it will be $38. could happen. it's not the price that people watching us will pay for it. they will pay more for it and it will be more than you would pay for an equivalent company if you

would buy one. >> basically, ali, you've done a lot on this. it's how much money you think this company will do in the future. you look at general motors or companies trading below this price. it's about how much they're going to earn in future years, and that's how you make the decision. of course with facebook there are so many questions about that right now. earlier this week remember the headline about general motors. we're not going to advertise on facebook and we don't make enough money doing it. 80% comes from that sort of advertising. that's not to say that it isn't a smart buy, but there are the companies in growth mode and trying to figure out how it will make money in the future and buying it at the price it will be offering. if you get a share you will pay more because it will most likely pop tomorrow. it's a bet that the business model will be strong over time and a lot of people have questions on it. >> just to clarify for our viewers, the stuff happening now

is we're going to find out the price. say it's $38 a share. that's the price that the hedge fund managers, institutional investors who have said they're going to buy their stock are going to pay for it. then it lists tomorrow morning and then erin, you covered a lot of ipos and there are a whole bunch of people who say i've got this much money i should invest. should you put it into facebook. it's a momentous time. a historic moment, does that mean you should buy the stock? it was all electronic, the new york stock exchange. i remember standing on the new york stock exchange floor when the new york mercantile exchange went public and i literally was not able to move my elbows because there was so much demand for that stock. this is on exponential steroids. so there will be a lot of interest, but as you point out with these institutional investors, 85% of those shares gl to the big guys. that is, in a sense, a lot of people's retirement money could

be going in here, but the rest of it will go to retail investors and those are the people that often catch the falling knife. the big guys catch the price, say it's $38. then it will open higher and it will close and it could be double if it does what linkedin did. is it going to be something like a groupon which is 40% below where its ipo price is or amazon or google. amazon, and it's at 225 now. google $85 and they criticized the way they did the ipo and i believe we're at 623. it doesn't mean it's bad. >> that's right. that's why you have to put real thought into it. it doesn't mean you shouldn't buy it, and doesn't mean you should. erin had a thought there. there was half a thought. is she still there? >> i'm here. >> you were saying something. don't just buy it.

>> don't just buy it because you have an account. just because you're a part of it doesn't mean you should go ahead and buy it. >> we'll bring you back when we find out what that surprise and let's take you to lance, a good friend of ours. the question here is can facebook keep growing at the pace it's been growing and can it keep making money when it migrates over to mobile devices where it doesn't have the same success in mobile advertising. >> it's a good question mark and facebook said that the part where they have weakness is in the mobile space because guess what? on mobile phones people aren't clicking on ads and i still think there's room for growth in the u.s., but around the world. it's a global brand and certainly they'll grow there and we've been looking at covering it like crazy. facebook, i heard you say earlier, facebook has really changed the online experience.

it's really introduced social to the masses. so that's why this is so exciting because not just the techno files like me use facebook, but everybody uses facebook. it's a big deal because of that and i think the ipo upon help with growth because everybody who was holding back from getting on facebook is taking the leap and getting on. >> do you think it's a good idea? >> to be on facebook? well, yea, i think so. i think facebook is a good and exciting platform. it's got a lot of features people like. it's a community. it's a digital, virtual community that is close to your family. it could be much more than that, it could be your friends around the world. i think we live in a global village, why not be part of the social digital village. >> lance, good to talk to you. that's our special coverage and i'll hand it over to wolf blitzer where he'll take you

into "the situation room." we'll let you know about the price the minute we've got it. thanks for joining us.o and how much the people in your life count on you. that's why we offer accident forgiveness... man: great job. where your price won't increase due to your first accident. we also offer a hassle-free lifetime repair guarantee, where the repairs made on your car are guaranteed for life or they're on us. these are just two of the valuable features you can expect from liberty mutual. plus, when you insure both your home and car with us, it could save you time and money. at liberty mutual, we help you move on with your life. so get the insurance responsible drivers

like you deserve. looks really good. call... or visit your local liberty mutual office, where an agent can help you find the policy that's right for you. liberty mutual insurance. responsibility. what's your policy? in "the situation room." the markets are about to close. we're awaiting the announcement from facebook setting the price of its historic initial public offering, one of the biggest ever which could make facebook a $100 billion company could happen at any moment. just listen to the bell closing on the new york stock exchange on the new york stock exchange for a sec. -- captions by vitac -- www.vitac.com the markets are officially closed. there's an insatiable demand for facebook stock because those initial shares are hard to get. rs